China National Offshore Oil Corp. (CNOOC)-2

01 March 2017

China National Offshore Oil Corp. (CNOOC) reported that the Penglai 19-9 comprehensive adjustment project in the Bohai Sea has started oil production. Two wells are currently producing approximately 750 B/D, and peak oil output of 13,000 B/D from 57 planned wells is expected in 2019. The company is the operator with a 51% working interest. ConocoPhillips holds the remaining project interest.